Real Estate fraud is booming like never before, and con artists are finding new and ingenious ways to fleece unsuspecting property investors. We have heard of so called, 'leading builders' being involved in land encroachment to real estate agents cheatings buyers.Looks like Govt and the builders association itself is stepping up to provide some protection to the consumers (and thus protect their bussiness :) ). Every buyer has to understand that , a legal check is the non-negotiable part of purchase.
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KBF, is another Blunder from the Real Estate Builders!!! Their Mission is to Protect Builder's Interst and not Customer's.
How?
Here you Go...
As of July 2008, everyone of us know the Prices in Kochin is coming down, from Rs.3000+ / Sqft to Rs.2500+ Sqft and Rs.2500 / Sqft to Rs.2000+ / sqft.
Now you will get an Apartment in Kakkanad for Rs. 1500 / Sqft (Desai Homes). But KBF is not ready to accept all these and they instruct their Members not to reduce from those Dream Figures!!!
Why?
Reason behind....
This is to cheat the Customers by giving them Confidense about today's Market Price and there by Invest!!! But this is far from the facts and prices are coming down.
How?
Reason is ....
As of Aug 2008 in Cochin, you will get offers from Builders, which was not case a year ago. Here are they;
1. Pre-EMI payment till Project Completion.
2. Exemption from rate difference as the floor goes up.
3. Free Modular Kitchen
4. Three Year Rent Assurance (10k - 15k)
5. Prizes like precious Watch
6. Entry to raffle Draw for Car.
7. Free Registratio (only from few)
8. And more to Come.... Price itself will come down below Rs.2000 / sqft.
From the above points you can understand that, all members of KBF are not Reduced their Prices But they did that in other means!!
So we wish, the KBF itself took initiative to allow builders to come down from their Price if they seem the customer is a genuine one. SO they can sell off all their Available Flats and Customers will get Property at the reasonable Price.
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